Celgene (CELG) Receives $124.55 Consensus Price Target from Analysts

Shares of Celgene (NASDAQ:CELG) have received an average recommendation of “Buy” from the thirty-six brokerages that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, seventeen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $124.55.

Several equities analysts have weighed in on CELG shares. Mizuho set a $128.00 target price on Celgene and gave the company a “buy” rating in a research note on Tuesday, December 26th. Stifel Nicolaus set a $130.00 price target on Celgene and gave the company a “buy” rating in a report on Monday, January 8th. Oppenheimer set a $166.00 price target on Celgene and gave the company a “buy” rating in a report on Monday, January 8th. Credit Suisse Group set a $123.00 price target on Celgene and gave the company a “buy” rating in a report on Thursday, December 28th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $147.00 price target on shares of Celgene in a report on Thursday, January 4th.

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In related news, Director James J. Loughlin sold 9,250 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $92.01, for a total value of $851,092.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernest Mario sold 13,370 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $94.49, for a total value of $1,263,331.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,120 shares of company stock valued at $3,879,509. Corporate insiders own 0.95% of the company’s stock.



Hedge funds have recently modified their holdings of the company. Robecosam AG acquired a new position in shares of Celgene during the third quarter worth approximately $114,000. Capital Bank & Trust Co lifted its holdings in shares of Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 517 shares during the last quarter. Guidant Wealth Advisors acquired a new position in shares of Celgene during the third quarter worth approximately $119,000. Virtue Capital Management LLC acquired a new position in shares of Celgene during the fourth quarter worth approximately $101,000. Finally, American Beacon Advisors Inc. acquired a new position in shares of Celgene during the fourth quarter worth approximately $120,000. Institutional investors own 78.53% of the company’s stock.

NASDAQ:CELG opened at $89.14 on Friday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99. Celgene has a fifty-two week low of $84.25 and a fifty-two week high of $147.17. The stock has a market cap of $67,308.44, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 0.60 and a beta of 1.49.

Celgene (NASDAQ:CELG) last released its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the business posted $1.61 EPS. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. equities analysts forecast that Celgene will post 7.69 earnings per share for the current fiscal year.

Celgene announced that its board has authorized a stock buyback program on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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About Celgene

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

Analyst Recommendations for Celgene (NASDAQ:CELG)

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